Michelle Ice City is accepting GF Securities’ listing guidance and plans to list on the A-share market IPO
2021-10-03 09:37:19Source: Beijing Youth Daily
Michelle Ice City is receiving guidance on the listing of GF Securities
Proposed to be listed on the A-share market for IPO financing at a valuation of 20 billion
A reporter from Beijing Youth Daily learned yesterday that according to Henan Securities Regulatory Bureau, Michelle Ice City Co., Ltd. plans to list on the A-share market and is accepting listing guidance from GF Securities. It was conducted in the bureau on September 29. Counseling and filing. This means that the long-rumored listing of Michelle Ice City has been officially confirmed.
2 billion yuan in financing at the beginning of the year
At the beginning of 2021, it was reported that Michelle Ice City received 2 billion yuan of financing from capital institutions led by Meituan Dragon Ball and Hillhouse Capital. The market is expected to have a valuation of 20 billion yuan. Since then, Michelle Ice City plans to go public, but they have been denied by Michelle Ice City.
According to public information, in 1997, Zhang Hongchao, who was in college, founded Michelle Ice City in Zhengzhou in 1997, a national chain brand specializing in fresh ice cream and tea for young people. He built a factory, a supply chain, and produced core raw materials. .
According to the company’s information, Michelle Ice City has completed two capital increases since the end of last year: at the end of December last year, the company’s registered capital increased from 102 million yuan to 113 million yuan, and it further increased to 360 million yuan in March this year. In addition, on December 17 last year, the company’s name was changed from “Zhengzhou Cross-Strait Enterprise Management Co., Ltd.” to “Michelle Ice City Co., Ltd.”.
More affordable than Starbucks and other prices
Currently, the founder brothers Zhang Hongchao and Zhang Hongfu hold 47.71% and 47.5975% of Michelle Ice City respectively. Hillhouse Capital, Meituan Dragon Ball and CITIC Industrial Fund have invested in Michelle Ice City, but according to the information of the company, they all withdrew on April 24, 2021. The shareholding ratios of the above-mentioned institutions were 4%, 4% and 2%.
Currently, in the Michelle Ice City system, Michelle Ice City is leading the management and operation; Henan Dajia Food Co., Ltd. is leading the R&D and production; Zhengzhou Baodao Trading Co., Ltd. provides warehousing and logistics services. The three major companies work together to form an industrial chain. Compared with Starbucks, Luckin, Hi Tea, and Naixue’s tea brands, Michelle Ice City is more affordable and has more stores.
Food safety issues broke out in some stores
According to the data monitored by the Jihai brand, Michelle Ice City currently has 17,958 stores in Yingmen, and 1089 stores have been closed cumulatively. In the past month, Michelle Ice City has opened 314 new stores. At this rate of opening, the number of stores will reach 19,000 by the end of the year. However, while relying on the franchise model to reduce management costs and achieve rapid expansion, brands often have insufficient control over franchisees.
In May of this year, some stores across the country, such as Zhengzhou, Jinan and Wuhan, had food safety issues, including tampering with the date labels of unsealed ingredients, changing or not recording the preparation deadline of ingredients “validity tracking card” at will, and using overnight ice cream in violation of regulations. Hygienic problems such as milk syrup, tea soup, milk tea and other ingredients, and the lemon skin is not cleaned. Subsequently, the official Weibo of Michelle Ice City apologized and dealt with the stores involved.
On May 17, due to food safety issues, 35 stores in Zhengzhou Michelle Ice City were ordered to rectify within a time limit, 3 stores were immediately closed for rectification, and 9 stores were issued with administrative penalty decisions on the spot. Michelle Ice City said that it is cooperating with a comprehensive investigation.
In August of this year, the Fuzhou Municipal Market Supervision and Administration Bureau randomly inspected 7 Internet celebrity milk tea shops. The inspection results showed that the Michelle Bingcheng store contained moldy lemons. The prepared syrup and milk products were stored in an unsealed cold storage.
In September of this year, the Beijing Haidian District Market Supervision Administration released the results of its supervision and inspection of 17 catering stores. Beijing Michelle Bingcheng Catering Management Co., Ltd. (brand name: Michelle Bingcheng) did not meet food safety due to food business conditions The problem of requiring and arranging personnel who have not obtained a health certificate to work in contact with directly imported foods has been filed and investigated.Text / reporter Zhang Xin
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